Alcoa posts $232 million Q3 profit, but adjusted net loss of $6 million
Alcoa reported third quarter 2025 net income attributable to the company of $232 million, or $0.88 per share, helped by an $786 million gain on the Ma'aden joint venture stake sale and a $267 million mark-to-market gain on Ma'aden shares. Excluding net special items of $238 million, including $895 million of charges for the Kwinana refinery closure, the company posted an adjusted net loss of $6 million, or $0.02 per share, and adjusted EBITDA excluding special items fell to $270 million. Alcoa's 2025 alumina and aluminum production and shipment outlook is unchanged, and it expects higher tariff costs in the fourth quarter.
Key points
- Revenue was $2,995 million, down 1% from $3,018 million in the second quarter and up from $2,904 million a year earlier.
- Net income attributable to Alcoa was $232 million, or $0.88 per share, versus $164 million, or $0.62 per share, in the second quarter.
- Adjusted net loss was $6 million, or $0.02 per share, compared with adjusted net income of $103 million in the second quarter.
- Full-year 2025 alumina and aluminum production and shipment expectations were left unchanged, and fourth quarter tariff costs on Canadian aluminum imports are expected to rise by about $50 million sequentially.
The filing
Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 22, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.